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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (116187)	4/7/2005 4:21:41 PM
From: illyia	of 209892

So... what you are saying Freep, is that everyone is waiting for Mr. Market to make up his mind. But there is a count on the INDU that is very ominous. It also appears to be behaving extremely well if the ominous count is the correct one. I realize that in all the other "bottoms" we have abruptly turned for an instant ride up... but, until this 4th wave or B (meaning the entire larger move up from Oct 2002)those corrections were always ABC diagonals - and to a solid channel line. The ABCs of this (larger degree) 4th or B wave have been heavy, thick semi-sideways affairs, and perhaps this is another thick W bottom coming up....in which case we would go back down anyway, at least following previous patterns. What I am asking is this: Does anyone see a launch from here? Wave wise. It looks like we have a clear 5 down on INDU with a 2 of larger degree or a B wave in progress. I can get a C-diagonal set-up out of it already, thus ABC down with the C hitting at 10K. But I cannot see a count for launch from here, unless it is a 1-2 for the fifth and there is just no momentum... Okay, I have said my peace... Any short term, immediate launch Bulls around here? i. (Naturally, the reason I am asking is because it is a fine place to buy puts if the down is correct... )

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